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mining1
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January 11, 2017, 06:06:48 PM |
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LOL. China didn't see the potential and buy into it. That assuming you're talking about government. Speculators saw the potential and invested in mining farms. But so did the rest of the world. Problem is, because of several reasons, mining, therefore wealth caused by bitcoin, concentrated in china. And no, they don't buy bitcoin, wether you talk about chinese government or people. They mined it. Atleast, most of it.
In fact, the value of bitcoin is where it is, because of the west. People from western countries bought bitcoin and increased it's price, not chinese people.
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solteykr (OP)
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February 12, 2017, 05:37:39 PM |
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COINS.PH Share the gift of convenience by inviting your friends to Coins.ph Show your friends how easy it is to send money, buy load and pay bills. You both receive 50 PHP every time a friend signs up through your referral link and verifies ID and Selfie.
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Gloiri
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February 12, 2017, 05:54:01 PM |
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Is China trying to control Bitcoin?
NO there's top 10 countries in which bitcoins are banned and china also include in that list you can google it if you want proof i don't think they're trying to do work on bit coins |
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crazyivan
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DMD Diamond Making Money 4+ years! Join us!
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February 12, 2017, 06:06:15 PM |
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Fuck China. They always complain how something affect their economy in a negative way. They affect their economy in a negative way trying to control EVERYTHING.
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Mike Mayor
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February 12, 2017, 07:02:06 PM |
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China does control bitcoin. Chinese government, if they want to, can crash bitcoin / shut it down at any time. Because bitcoin is mostly centralized in china. I was thinking about buying some bitcoins for the next halving, but nowadays china will try to control bitcoin, and that may cause panic exit to fiat, therefore price crash.
Please explain to me how bitcoon can be shut down ? You just make stuff up as you go hey ? You dont even n ow what you talking about. Fuck China. They always complain how something affect their economy in a negative way. They affect their economy in a negative way trying to control EVERYTHING.
Yes because China is communistic. Is China trying to control Bitcoin?
NO there's top 10 countries in which bitcoins are banned and china also include in that list you can google it if you want proof i don't think they're trying to do work on bit coins You should learn how to read. Private trading is fine but ownaship of bitcoin from places like banks is not allowed. Look on wiki. |
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BingoDog
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February 12, 2017, 07:13:36 PM |
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China saw some great potential in bitcoin and they wanted to get maximum profit out of it in their best interest. Some think that this includes control of bitcoins but I don't think that is actualy possible. They have large influence on price and bitcoin market but still they can't control it.
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malaj
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CryptoVzla
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www.thegeomadao.com
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February 12, 2017, 07:21:21 PM |
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I don't think that the HUGE amount of Bitcoin users in China are associate to "control" the bitcoin network, i mean if they join forces, they probably would control the network but that's not going to happen.
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bitgoldpanther1978
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February 12, 2017, 08:01:28 PM |
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Is China trying to control Bitcoin?
Even it is there intention to control it, they still cannot do it because bitcoin is not being centralized instead it is decentralized. Only they owned title of holding the biggest average percentage of bitcoin in the whole world. But not controlling it. |
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asuryan180
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February 12, 2017, 08:09:23 PM |
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China can't control BTC but it can for sure influence it some way or another.The most miners are in China which automatically means the biggest part of BTC holders and that cannot be neglected.I think that China can make BTC shoot to the stars but can also drag it down.
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mrkevio
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February 12, 2017, 08:38:56 PM |
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China has the control over mining pretty much. If you take a look at the charts, you will see that China has the highest percentage, over 60% or 80% if I remember correctly. It has a somewhat control over it because there is the most trading volume too..
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LibreMan
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February 12, 2017, 09:58:07 PM |
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Is China trying to control Bitcoin?
I think that the news was made intentionally. When the price of bitcoin increases, negative news comes out. Then the price of bitcoin is falling. They are starting to buy more btc at a low price. Then the price of bitcoin comes back to normal price. This scenario is happening all the time. I think China controls the bitcoin. |
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Pattberry
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February 12, 2017, 10:11:57 PM |
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I don't think that the HUGE amount of Bitcoin users in China are associate to "control" the bitcoin network, i mean if they join forces, they probably would control the network but that's not going to happen.
Have you considered the huge miners with very huge farms who have invested millions of dollars .They could very well influence the price of bitcoin and consider the news coming out of China when ever the price of bitcoin crosses thousand dollars,there will be some sort of drama and news coming out from China to pull the price down. |
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PhucS
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February 12, 2017, 10:41:04 PM |
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This is a difficult question because I could not answer precisely. A country can not control a major currency like Bitcoin, but China also has the most influence to it. Number of transactions daily Bitcoin in China is huge, they have a lot of users, Bitcoin is almost common to all Chinese people. They have many favorable factors such as cheap electricity, have good technology, high number of transactions. These factors have increased the number of Bitcoin mining in China. On the other hand, the Chinese government is also taking measures to regulate capital flows, monitoring the big trading floor. China can not control Bitcoin but it certainly affects Bitcoin.
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Yakamoto
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February 12, 2017, 10:52:05 PM |
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Is China trying to control Bitcoin?
The Bitcoin community within China is definitely looking to do what they can in order to flex more of their power over Bitcoin and attempt to gain an even larger market share, however I am significantly doubting the effectiveness of it all since they're only leading in hashing power right now and have a lack of control in other aspects. Not that hashing power isn't important, but there is a number of things that must be controlled. |
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lambofan
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February 12, 2017, 11:17:39 PM |
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This is a difficult question because I could not answer precisely. A country can not control a major currency like Bitcoin, but China also has the most influence to it. Number of transactions daily Bitcoin in China is huge, they have a lot of users, Bitcoin is almost common to all Chinese people. They have many favorable factors such as cheap electricity, have good technology, high number of transactions. These factors have increased the number of Bitcoin mining in China. On the other hand, the Chinese government is also taking measures to regulate capital flows, monitoring the big trading floor. China can not control Bitcoin but it certainly affects Bitcoin.
After seeing the price bordering $1000 this day, no doubt indicates that somehow the price is controlled somehow sometimes, as if in some way or another the exchanges agree, and the latest relevant news of this week comes from China, everything is conjugated, so China certainly plays an important role in the market. |
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CryptoVzla
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February 16, 2017, 01:16:12 AM |
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China will not (technically) control BTC but chinese miners can manipulate prices and profit of it. That's all i see
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rubiprojects
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February 16, 2017, 01:32:30 AM |
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Fuck China. They always complain how something affect their economy in a negative way. They affect their economy in a negative way trying to control EVERYTHING.
They thought bitcoin is ponzi or MLM scam in 2013. But now PBOC release their own digital currency based on blockchain, they want to impair bitcoin's power. Because many Chinese buy bitcoin to prevent CNY inflation and devaluation. |
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Vaskiy
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February 16, 2017, 01:35:28 AM |
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China will not (technically) control BTC but chinese miners can manipulate prices and profit of it. That's all i see
As the miners and user base of digital currency is quite high in China compared to other countries gives it the access to manipulate the price movement. Now this is no longer effective and don't have any control upon the bitcoin. If its found under their control, the system could have changed entirely. |
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Wintersoldier
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February 16, 2017, 01:44:11 AM |
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China will not (technically) control BTC but chinese miners can manipulate prices and profit of it. That's all i see
As the miners and user base of digital currency is quite high in China compared to other countries gives it the access to manipulate the price movement. Now this is no longer effective and don't have any control upon the bitcoin. If its found under their control, the system could have changed entirely. I agree, huge miners are in China. Bicoin isn't controlled by one country including China since Bitcin is decentralized coin. Bitcoin holders are involved in Bitcoin, we are included there. So if every Bitcoin holders decided to sell their Bitcoin, sure that the Bitcoin's price will dump, that is market based. |
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HarringtonStark
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February 16, 2017, 01:44:52 AM |
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No! No one controls bitcoin. It's just that China has high volume.
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